The housing finance sector is growing at around 30-35 per cent and is expected to end the fiscal with a size of Rs 45,000 crore (Rs 450 billion).
"The market size is currently pegged at Rs 30,000-35,000 crore (Rs 300-350 billion) and will probably end at Rs 45,000 crore by March end," ICICI Home Finance Company chief operating officer Rajiv Sabharwal said in Mumbai after the Maharashtra Chamber of Housing Industry announced the launch of four day Property 2004 exhibition, beginning January 23.
The average loan size has also increased by Rs 100,000 at Rs 500,000 in this year, he added.
MCHI president Niranjan Hiranandani said the house buying activity was also expected to record a rise of 25 per cent in 2004.
In Property 2003, around 1,500 flats worth Rs 800 crore (Rs 8 billion) were booked while housing loans sanctioned aggregated Rs 700 crore (Rs 7 billion), he said.
Referring to the first exhibition of this year, he said around 120 developers, including international companies, and 20 housing finance companies were expected to showcase residential and commercial properties.
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